Equities Analysts Set Expectations for Cara Therapeutics, Inc.’s FY2023 Earnings (NASDAQ:CARA)

Cara Therapeutics, Inc. (NASDAQ:CARA – Get Rating) – Equities researchers at Jefferies Financial Group decreased their FY2023 earnings per share estimates for Cara Therapeutics in a note issued to investors on Tuesday, March 7th. Jefferies Financial Group analyst C. Howerton now expects that the biopharmaceutical company will post earnings per share of ($1.30) for the year, down from their prior forecast of ($0.58). The consensus estimate for Cara Therapeutics’ current full-year earnings is ($0.65) per share. Jefferies Financial Group also issued estimates for Cara Therapeutics’ FY2024 earnings at ($0.60) EPS.

Several other analysts have also recently issued reports on the company. Needham & Company LLC cut their target price on Cara Therapeutics from $26.00 to $22.00 and set a “buy” rating on the stock in a research note on Tuesday. Bank of America cut Cara Therapeutics from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $13.00 to $6.00 in a research report on Tuesday. HC Wainwright decreased their price objective on shares of Cara Therapeutics from $25.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday. JPMorgan Chase & Co. decreased their price objective on shares of Cara Therapeutics from $19.00 to $16.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Piper Sandler decreased their price objective on shares of Cara Therapeutics from $25.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Cara Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $18.71.

Cara Therapeutics Trading Down 0.3 %

CARA opened at $6.39 on Thursday. The company has a market cap of $344.68 million, a P/E ratio of -4.02 and a beta of 0.99. The business’s 50-day moving average price is $10.69 and its 200-day moving average price is $10.51. Cara Therapeutics has a 12 month low of $6.11 and a 12 month high of $13.97.

Hedge Funds Weigh In On Cara Therapeutics

Institutional investors have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund increased its position in shares of Cara Therapeutics by 7.8% during the third quarter. Oregon Public Employees Retirement Fund now owns 14,976 shares of the biopharmaceutical company’s stock worth $140,000 after acquiring an additional 1,082 shares during the period. Rafferty Asset Management LLC bought a new position in shares of Cara Therapeutics during the second quarter valued at approximately $97,000. B. Riley Wealth Management Inc. boosted its stake in shares of Cara Therapeutics by 22.0% during the second quarter. B. Riley Wealth Management Inc. now owns 39,848 shares of the biopharmaceutical company’s stock valued at $364,000 after purchasing an additional 7,197 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Cara Therapeutics by 4.7% during the third quarter. Prudential Financial Inc. now owns 45,732 shares of the biopharmaceutical company’s stock valued at $428,000 after purchasing an additional 2,065 shares in the last quarter. Finally, Woodstock Corp boosted its stake in shares of Cara Therapeutics by 30.4% during the third quarter. Woodstock Corp now owns 46,323 shares of the biopharmaceutical company’s stock valued at $434,000 after purchasing an additional 10,801 shares in the last quarter. 69.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cara Therapeutics

In other Cara Therapeutics news, SVP Frederique Ph.D. Menzaghi sold 3,506 shares of the business’s stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $11.27, for a total transaction of $39,512.62. Following the completion of the sale, the senior vice president now directly owns 166,275 shares in the company, valued at approximately $1,873,919.25. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Frederique Ph.D. Menzaghi sold 3,506 shares of the business’s stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $11.27, for a total transaction of $39,512.62. Following the completion of the sale, the senior vice president now owns 166,275 shares of the company’s stock, valued at approximately $1,873,919.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Joana Goncalves sold 2,992 shares of the company’s stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $11.27, for a total transaction of $33,719.84. Following the completion of the transaction, the insider now directly owns 71,901 shares of the company’s stock, valued at approximately $810,324.27. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,954 shares of company stock worth $147,171. Insiders own 3.20% of the company’s stock.

Cara Therapeutics Company Profile

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CARA Therapeutics, Inc is a clinical-stage biopharmaceutical company, which focuses on developing and commercializing new chemical entities designed to alleviate pruritus by selectively targeting peripheral kappa opioid receptors (KORs). Its portfolio includes opioid-based products, anesthetic-based drugs, and analgesics that targets to alleviate itch and pain.